Tis the season for deep think defense analysis, not just in the U.S. but overseas as well. The International Institute for Strategic Studies has released its 2010 report, Global Military Balance, which examines, well, the balance of military power across the globe. It's not free, but you can find associated resources for the report, a summary and links to past versions here.
Meanwhile the British government has released a defense green paper (pdf) outlining the direction of the UK military. The 54 page document is supposed to be a prelude to a more wide ranging strategic defense review after the British elections. It promises, in the words of the green paper, to fundamentally reassess Britain's role in the world. It also echoes some of the language of the U.S. defense review, urging the need for a more flexible and adaptive force to handle the various counter-insurgencies Britain is confronting with the U.S.